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Badnarik ran last time for the Libertarians. Ron Paul hasn't run on the Libertarian ticket since 1988 and I would be surprised it he did again. Most Libertarian candidates in recent years have been more socially liberal than he is, I think.
You're right though - he's partially using the Republican primaries to gain popularity and money which is a good strategy, but with the weakness of the candidates this election year he still has an outside shot at the nomination, imo. We'll see how his fundraising turns out this quarter - they're hoping for $12 million which would be huge....effectively making him a threat during the primaries and keeping him in the top 3 for sure. It could be interesting to see what he does if he doesn't win the nomination because most people are expecting him to run regardless even though he said he will not.
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